This week the economy has come to the full attention of the entire country. With the fall of Fannie and Freddie, the rest of the credit industry of this country came down as if someone took away a card from the bottom of a pyramid of cards. McCain and Obama have been pointing the finger of blame at each other, but neither have come up with anything concrete. McCain has not really come up with anything of importance. At least he's trying. Obama had to get with his team to discuss what he would do for this crisis. After all of the discussion and planning, his big solution was that he needs more time. Apparently, he is voting present again. Maybe this is above his pay grade too.
From both economic plans that the candidates as they have been presented, we will have deficits no matter who we elect. The real question who will be able to trust to control the amount of spending the best.
Palin has had experience in cutting budgets. McCain has already been against the overuse of earmark pork spending. Obama has made campaign promises that, if kept, will put the deficit of into astronomical amounts. He is chastising the Bush administration for increasing the national deficit, but his plans will raise it even more. He wants to add more spending to the federal budget. His health care plan will cost at least about 50-60 billion. Last week, he also pledged at least another 50 billion to fight worldwide poverty. Many believe that the final amount to both will be substantially higher, possibly in the hundreds of billions. Other than getting out of Iraq, he has not proposed any other spending cuts. He still going to fight in Afghanistan. Even though he chastises the Bush administration for the leap in the amount of the deficit, he has not come up with anything that will cut it. So far, it will seem to only increase under his administration. His tax increases to the wealthy isn't going to be enough to cover his ambitious aspirations.
Apparently, he has found out that if he spends more, we will get a surplus. He seems to believe that if you subtract money from the budget, it will actually add money to our budget. My elementary math teachers were wrong all of this time.
I want to go into the topic of the probable spending of hundreds of billions for worldwide poverty. Donating money to the poor is a very noble thing to do, but shouldn't we use that money to take care of our own poor. Recently there have been tent cities or "Hoovervilles", as they were called in the Great Depression, have been popping up accross the nation. From Reno to Seattle to Athens, Ga. they are growing at alarming rates. Many inhabitants of those "cities", whose homes were foreclosed on, have nowhere to go, and the shelters are full. With the amount of growing homeless population and economic insecurity, shouldn't we focus our limited financial resources on our own poor before we focus so much on other countries?